Well it's starting, that's for sure. But this could go on for a few more years, going through multiple boom and bust cycles and reaching a higher platform each time. So far there's not that much money invested in Bitcoin yet, with individual investors still being the largest group. Even the venture capitalists seem to have invested more in Bitcoin related start-ups than in Bitcoin itself, never mind the really big institutional money.
 
Since the senate hearings I'm also more convinced the legal matters will be resolved in a way positive for the Bitcoin environment, as the politicians aren't complete idiots either and want to see economic growth, innovation and jobs. From this point on it's a waiting game until we reach much, much higher prices. The market will probably overreact at some point as it did with the dot-com bubble in the late nineties and enter a longer period of stagnation, but even the peak might still be a few years away from now.